US trade deficit sharply narrows in April as Trump tariffs take hold

In April, the US trade deficit sharply decreased by 55.5 percent to $61.6 billion, according to government data. This decline from March's record of $138.3 billion coincided with President Trump's implementation of 10 percent tariffs on various trading partners. Imports significantly slumped by 16.3 percent to $351 billion as these tariffs took effect, impacting allies and competitors alike.